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Human behavior is not always consistent with standard rational choice predictions. The much-investigated variety of apparent deviations from rational choice predictions provides a promising arena for the merger of economics and biology. Although little is known about the extent to which other...
Persistent link: https://www.econbiz.de/10014219014
property regime, multiple co-owners have the right to exclude one another from benefiting from a common resource. The economic …
Persistent link: https://www.econbiz.de/10014071633
evolutionary theory, we derived six factors that predicted 52% of the between-item variation in magnitudes for a novel set of 24 …
Persistent link: https://www.econbiz.de/10014096022
limitations irrelevant. This experiment shows that strong property rights serve this function. In theory, efficient outcomes … obtain even without strong property rights. In a hypothetical world where cognitive ability is perfect, individuals would not … prevent weak property rights &m imperfectly enforced property rules and liability rules with low damages - from securing …
Persistent link: https://www.econbiz.de/10012153390
limitations irrelevant. This experiment shows that strong property rights serve this function. In theory, efficient outcomes … obtain even without strong property rights. In a hypothetical world where cognitive ability is perfect, individuals would not … prevent weak property rights – imperfectly enforced property rules and liability rules with low damages – from securing …
Persistent link: https://www.econbiz.de/10012174324
This work is an attempt to sort out the relationship between virtual property and common law property. How are we to … understand the relationship between a virtual table and an actual table? What does property in this context mean exactly? While … what property elements were being used inside one virtual space - Second Life. We sought to understand the relationship …
Persistent link: https://www.econbiz.de/10012771600
This paper uses a laboratory experiment to probe the proposition that property emerges anarchically out of social …
Persistent link: https://www.econbiz.de/10014196687
The practice of child marriage is ubiquitous in developing countries, where one in three girls is married before the age of 18. Although most developing countries have a legal minimum age of marriage, in practice marriage age is determined by social norms rather than the law. In this paper, we...
Persistent link: https://www.econbiz.de/10012208297
The endowment effect is the seemingly irrationally tendency to immediately value a possessed item more than the opportunity to acquire the identical item when one does not already possess it. The phenomenon has broad legal implications, as it suggests a drag on trade, occasioned by inconsistent...
Persistent link: https://www.econbiz.de/10014152821
Courts are rarely asked to judge beauty. Such a subjective practice would normally be anathema to the ideal of objective legal standards. However, one area of federal law has a long tradition of explicitly requiring courts to make aesthetic decisions: the law of design. New designs may be...
Persistent link: https://www.econbiz.de/10014165060